Invoice
Invoice is a formal document sent to a customer requesting payment for goods or services provided. It details the amount owed, payment terms, due date, and description of the transaction. Invoices are key for accounts receivable, cash flow tracking, and legal proof of sale.
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Incurred Expense
An incurred expense is a cost that a business has become liable for, regardless of whether it has been paid…
Incremental Cost
Incremental cost refers to the additional expense incurred when producing one extra unit of output or undertaking a specific decision.…
Impairment Loss
Impairment loss occurs when an asset’s carrying value exceeds its recoverable amount. It represents a permanent reduction in the value…
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